On the 21st November #Coops4dev discussed along with the cooperative investment manager Inpulse about the idea of the Cooperative Global Impact Fund (CGI) in a conference at the European Commission’s DG Development and Cooperation InfoPoint in Brussels.
This proposed fund would, if approved, remedy a deficient situation in the cooperative sector. Whilst cooperatives foster stability and progress in low-income countries, they struggle to attract the necessary investment to grow.
By offering long-term financial support to cooperatives with sound impact on economic and social development, the CGI fund would contribute not only to bolster the cooperative development itself, but also the achievement of the United Nations Stability Development Goals (SDGs). Cooperatives, as people-centered and democratic businesses, guarantee that the monetary returns and benefits remain in the community.
It is crucial for the initiative to provide a holistic and pragmatic approach that covers all angles of the cooperative realm and UN SDGs. In this sense, it is expected to offer a transversal answer to challenges ranging from social and economic development to environmental sustainability or cultural integration.
The plan does not only foresee capital investment, but also technical assistance to boost growth and generate added-value in areas such as risk management, seed money or cooperative governance.
The International Cooperative Alliance and Inpulse represent perfect partners to launch the CGI fund: whereas ICA offers a solid cooperative network that reaches the four corners of the world, Inpulse provides the technical and financial expertise on cooperative investments.
The event was also a good opportunity to introduce the values of the cooperative movement and International Cooperative Alliance’s mission and experience to the audience, mostly composed of actors from international institutions, such as the UN and the EU, and organisations working in the context of international cooperation and development.